Cousins Properties Inc (NYSE:CUZ) Announces Quarterly Dividend of $0.07

Cousins Properties Inc (NYSE:CUZ) announced a quarterly dividend on Monday, March 25th, Wall Street Journal reports. Stockholders of record on Wednesday, April 3rd will be paid a dividend of 0.0725 per share by the real estate investment trust on Monday, April 15th. This represents a $0.29 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Tuesday, April 2nd. This is a positive change from Cousins Properties’s previous quarterly dividend of $0.07.

Cousins Properties has decreased its dividend payment by an average of 7.3% annually over the last three years and has increased its dividend every year for the last 5 years. Cousins Properties has a payout ratio of 47.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cousins Properties to earn $0.71 per share next year, which means the company should continue to be able to cover its $0.29 annual dividend with an expected future payout ratio of 40.8%.

Shares of NYSE CUZ opened at $9.62 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.38. Cousins Properties has a fifty-two week low of $7.53 and a fifty-two week high of $10.10. The stock has a market cap of $4.09 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 3.95 and a beta of 1.00.

Cousins Properties (NYSE:CUZ) last issued its earnings results on Wednesday, February 6th. The real estate investment trust reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. Cousins Properties had a return on equity of 2.81% and a net margin of 16.76%. The business had revenue of $122.68 million for the quarter, compared to analyst estimates of $118.30 million. During the same quarter last year, the company earned $0.15 EPS. The business’s quarterly revenue was up 7.5% on a year-over-year basis. Equities analysts forecast that Cousins Properties will post 0.7 EPS for the current year.

Several brokerages have recently weighed in on CUZ. Zacks Investment Research lowered Cousins Properties from a “buy” rating to a “hold” rating in a research report on Monday, December 17th. Bank of America set a $11.00 target price on Cousins Properties and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $10.38.

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Cousins Properties Company Profile

Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office towers located in high-growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing and management of high-quality real estate assets.

See Also: Dividend

Dividend History for Cousins Properties (NYSE:CUZ)

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